4H Ichimoku shows Bitcoin is ready to fall slightly, oversold and will drop to around $7800 before touching the shoulder of the Ichimoku support cloud which will push Bitcoin up into a rally with a target of $10,000 within the next 7 days.
This movement will break us through and above the very thin 1D Ichimoku cloud, putting us above the resistance area with a support cloud forming over the following 5-7 days, which will continue to prop us up and move us more into rally season.
The next 2 weeks should prove to be interesting as we test these Ichimoku resistance areas and they change from resistance to support.
Rally Season is almost here!
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Update on the 1D scale
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Update.. touched $7800. 10k incoming.
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Engines are warming up! Lift off soon!
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Target $9200 puts us above the 1H Ichimoku Resistance area and it becomes our support! 24-36 hours until we see this come to fruition and then the bull run is on!
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Big scary red cloud may push us back down, but we are high up on it, so if we hit it, we may hit it and break through the top without being stuck inside long.
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Bullish pennant.. target $9900 within 24 hours. If we can't break this, we're going down to at least 6k or lower.
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I love it when I'm right.. 4-20 we're about to break the thin resistance cloud, likely within the next 4-6 hours. Next target 10k incoming!
what is the "this" in "if we can't break this, we're going down to at least 6k" referring to ?
Tin.Foil
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@Sylvain.neswadba, "this" means the Ichimoku resistance cloud. We have a large Ichimoku Resistance Cloud to our right (the big red cloud), but it's a small cloud (green and red, thin) just above us. So there isn't much resistance holding us down. If we were unable to break through that cloud, then the red cloud to our right would try to push us down. But, I think we're too high on the red cloud, even if we went sideways for a couple days, we're likely moving up to break out of the top of that cloud and go after our 10k target.
This marks the turning of the market, this cloud on the 1D is the big factor in bear vs bull market for short term (short term meaning within 30-60 days. Breaking this cloud will put us solidly in bull market territory with rallies due to come and great profits.